South Carolina Becomes Latest US State to Embrace Crypto

Next Crypto Hub in the US

Over the past few years, cryptocurrencies have seen a surge in popularity and adoption worldwide. Currently, multiple U.S. states have shown interest in educating the public about digital currencies. Following California, South Carolina has taken several steps to make crypto adoption more mainstream.

In particular, the South Carolina Emerging Technology Association (SCETA) is trying to advance the state's digital currency initiatives. Formed in 2018 by nine entrepreneurs and advisors, SCETA is the first nonprofit organization in the state to promote blockchain technology and cryptocurrencies.

The organization has been educating state leaders about blockchain technology, digital assets, and cryptocurrencies over the past few years. A big win for the association came last month when SC lawmakers authorized a $500,000 program to study digital currency.

South Carolina Bitcoin Blockchain Conference

In order to spread awareness about blockchain and cryptocurrencies and encourage investment, South Carolina will hold its first Bitcoin Blockchain conference from Oct.5 to Oct.7. Several noteworthy speakers will address the conference:

“Some of the notable speakers who will be present are SC State Treasurer Curtis Loftis, Commissioner Hester Peirce from SEC, U.S. Congresswoman Nancy Mace, CEO of Satoshi Fund/Bitcoin innovator Dennis Porter, and Bill Zielke, Chiff Revenue and Marketing Lead at BitPay, among many others,” Luke Levanchy, one of the members of the organizing committee of the SC Blockchain conference, told BSC News.

Speakers will discuss bitcoin, blockchain technology in business and government, and how government policies can affect crypto adoption.

During the 2022 legislative session saw 37 states consider legislation about cryptocurrency, digital currencies and other digital assets. Further, a study by SCETA found that Wyoming is the most crypto-friendly state in the country. Wyoming has enacted more than 20 pieces of legislation to attract blockchain and cryptocurrency businesses.

Cryptocurrencies and blockchain technology are the next evolution in finance, but the response from states remains to be seen.